0
No
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What types of items can one deduct from their taxes?
There are many categories that fall under qualified tax deductions. Child care expenses, mortgage interest, IRA deductions, and alimony are all legal deductions.
How can one use their vehicle for tax deductions?
There are several different ways that vehicles can be used for tax deductions. If a vehicle is used for primarily business reasons and has several kilometers of business driving on it, those kilometers (or, in some cases, the cost of the vehicle itself) can be deducted. Sales taxes on the vehicle and the overall decrease in a vehicle's value can also be applied towards tax deductions.
What are the two most common deductions?
When itemizing, the two most common deductions are home morgage interest and property taxes. If you mean credits the two most common are the child tax credit and earned income credit. Both deductions and credits lower or go against your tax liability.
What are some options for American tax relief?
There are a number of options available for American tax relief. Some of these options are the $1000 child tax credit, education and tuition deductions and payroll tax credits.
Are cats a tax deduction?
Pets are not tax deductions.
Which tax software offers the msot deductions?
Tax Cut Premium has all sorts of deductions and works great for investments.
Can you claim your child for the earned income tax credit even if your ex is allowed to claim that child for the child tax credit?
Two people can not claim the same child. It's as simple as that. If the judge ordered that he get to claim the child for that certain year. Then he gets to claim him for whatever deductions apply to him.
Itemized deductions are recorded on what tax form?
Itemized deductions are recorded on: Schedule A.
Funeral expenses are they tax deductions?
No.
Where can you get receipts for tax deductions?
in the trash
Are social security deductions pre-tax or post tax?
Post tax
Above-the-line Tax Deductions?
If you qualify, you can claim above-the-line tax deductions even if you don't itemize.Click here to fill out the Above-the-line Tax Deductionsform
